Mastercard’s new national advertising campaign spotlights women business owners across the US.
Women across the nation contribute $3tn to the economy and open over 1800 business every single day.
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The new national campaign highlights the stories and achievements of women business owners who are driving the business industry while efforts to close the funding gap continues.
Mastercard is also furthering its commitment to enabling equal funding opportunities for underserved communities. This includes women small business owners and budding entrepreneurs.
Mastercard now turns its focus to supporting business owners not just for the week but every day of the year. National Small Business week approaches, inviting others to celebrate the industry achievements.
The second phase of the company’s advertising and communications programme features the portraits of women business owners.
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By GlobalDataFrom a feature in the New York Times to billboards in Times Square, Mastercard highlights the women who took an idea and made an impact.
The first output these features highlights Deepica Mutyala founder and CEO of Live Tinted, Catherine Berman co-founder and CEO of CNote, Sonja Rasula founder and CEO of Unique Markets and Morgan Debaun CEO and Founder of Blavity among others.
EVP of North America Marketing & Communications at Mastercard, Cheryl Guerin, commented: “When you support women entrepreneurs, you’re not only supporting the economy, you are supporting their desire to solve real needs and make a difference in people’s lives. Women are starting businesses with the intention of driving change within their communities, society and the world. By putting a spotlight on them we hope that other women are inspired to pursue their passion.”
Supporting the underserved
Mastercard is also pushing to support more underserved communities.
Nearly 27% of US households are unbanked or underbanked. This means that they cannot access mainstream financial services.
Shockingly, women receive only 4% of all small business loans. This is why the Mastercard Center for Inclusive Growth heavily invests in supporting the development and growth of Community Development Financial Institutions (CDFIs).
In addition, the Mastercard Start Path works to identify female founded start-ups who are shaping the future of commerce. The company is in partnership with Astia on this programme. The startup engagement programme identifies early stage organisations that offer promising technologies. Mastercard Start Path and Astia have already supported and invested in three female founded start-ups together.
